PIF-owned Saudi real estate giant ROSHN Group and Kuwait’s Agility Logistics Parks have signed heads of terms to establish a joint venture to develop a large-scale Grade A logistics park in the Kingdom, the companies said on Sunday.

The agreement was signed on the sidelines of the PIF Private Sector Forum in Riyadh.

The proposed joint venture is envisioned to develop the project on approximately 1-1.5 million square metres (sqm) of land in a strategic location offering access to one of the Kingdom’s most important gateways and national logistics corridors.

The exact location, development phasing and investment value were not disclosed.

In November 2025, Agility Logistics Parks had inaugurated a new Grade A logistics park in Jeddah at an investment of 611 million Saudi riyals ($166.3 million). The company had stated then that it is delivering a SAR 250 million expansion that will add 100,000 sqm of Grade-A warehousing to Agility Logistics Parks (ALP) warehousing complex in Riyadh, taking the total available area 551,368 sqm. The company also operates a 200,000 sqm logistics park in Dammam and a  871,000 sqm facility in Riyadh.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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